Bitcoin’s Price Gauge Points to Further Upside Before ‘Oversold’ Signal

Despite Bitcoin hitting all-time highs, the Mayer Multiple suggests it may still have room to run before reaching a “oversold” state, potentially reaching $180,000. This bullish indicator, measuring BTC price against its 200-week moving average, shows the asset remains far from overheated even at current levels. Analysts suggest this bullish signal points towards continued price growth. However, Bitcoin has lacked a dramatic breakout this year, prompting attention to onchain indicators like the Mayer Multiple to provide insights into future price movement.